Atlanticus (NASDAQ:ATLC) Stock Rating Lowered by StockNews.com

Atlanticus (NASDAQ:ATLC) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

ATLC has been the topic of a number of other reports. Keefe, Bruyette & Woods started coverage on Atlanticus in a research report on Wednesday, May 22nd. They set a “market perform” rating and a $33.00 price objective on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $39.00 price target on shares of Atlanticus in a report on Tuesday, May 28th. Finally, BTIG Research began coverage on shares of Atlanticus in a research note on Friday, June 7th. They issued a “buy” rating and a $45.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Atlanticus has a consensus rating of “Moderate Buy” and an average target price of $39.25.

Atlanticus Price Performance

ATLC opened at $26.24 on Tuesday. The company’s 50-day simple moving average is $26.37 and its two-hundred day simple moving average is $30.61. Atlanticus has a 52-week low of $23.09 and a 52-week high of $43.70. The stock has a market capitalization of $388.09 million, a P/E ratio of 6.19 and a beta of 1.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.42 and a current ratio of 1.42.

Atlanticus (NASDAQ:ATLC) last issued its quarterly earnings data on Friday, May 10th. The credit services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $0.98 by $0.11. The company had revenue of $290.17 million during the quarter, compared to analyst estimates of $309.78 million. Atlanticus had a return on equity of 26.67% and a net margin of 8.67%. As a group, analysts predict that Atlanticus will post 4.52 EPS for the current year.

Insider Buying and Selling at Atlanticus

In other news, major shareholder Frank J. Hanna III purchased 263,432 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were purchased at an average price of $28.21 per share, for a total transaction of $7,431,416.72. Following the completion of the purchase, the insider now owns 263,432 shares in the company, valued at approximately $7,431,416.72. The purchase was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Frank J. Hanna III purchased 263,432 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were acquired at an average cost of $28.21 per share, for a total transaction of $7,431,416.72. Following the acquisition, the insider now owns 263,432 shares of the company’s stock, valued at approximately $7,431,416.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Deal W. Hudson sold 1,200 shares of Atlanticus stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $26.05, for a total value of $31,260.00. Following the completion of the transaction, the director now owns 68,655 shares in the company, valued at approximately $1,788,462.75. The disclosure for this sale can be found here. 51.80% of the stock is owned by corporate insiders.

Institutional Trading of Atlanticus

Institutional investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC purchased a new stake in Atlanticus during the third quarter worth $282,000. Dimensional Fund Advisors LP boosted its stake in shares of Atlanticus by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 602,272 shares of the credit services provider’s stock worth $23,290,000 after acquiring an additional 7,234 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Atlanticus by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock valued at $7,655,000 after acquiring an additional 2,453 shares during the period. Swiss National Bank increased its stake in shares of Atlanticus by 16.5% in the 3rd quarter. Swiss National Bank now owns 12,700 shares of the credit services provider’s stock valued at $385,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Denali Advisors LLC raised its holdings in Atlanticus by 5.2% in the 1st quarter. Denali Advisors LLC now owns 26,040 shares of the credit services provider’s stock worth $771,000 after purchasing an additional 1,285 shares during the period. 14.15% of the stock is currently owned by institutional investors and hedge funds.

About Atlanticus

Atlanticus Holdings Corporation, a financial technology company, provides credit and related financial services and products to customers the United States. It operates in two segments, Credit as a Service, and Auto Finance. The Credit as a Service segment originates a range of consumer loan products, such as private label and general purpose credit cards originated by lenders through various channels, including retail and healthcare, direct mail solicitation, digital marketing, and partnerships with third parties; and offers credit to their customers for the purchase of various goods and services, including consumer electronics, furniture, elective medical procedures, healthcare, and home-improvements by partnering with retailers, healthcare providers, and other service providers.